Bloom Advises Nature Coast Medical Group on Partnership with InnovaCare
- August 9, 2023
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The Bloom Organization (“Bloom”), a leading healthcare services focused investment bank, is pleased to announce that its client, Nature Coast Medical Group, PA (“NCMG”), has completed a strategic partnership with InnovaCare Health (“InnovaCare”), a leader in integrated and value-based healthcare services and portfolio company of Bain Capital Private Equity.
The acquisition represents entry into a new geography for InnovaCare. Having served Levy County and the surrounding areas for over 30 years, NCMG physicians are recognized throughout the region as top-quality clinicians and thought leaders.
“Our team worked closely with The Bloom Organization to evaluate the market and ensure we found a partner who shared our core ideals and values as well as a vision for the future of our practice,” said Dr. Donald McCoy, a founding physician at NCMG. “We are excited to work with the InnovaCare team to continue our transition into value-based care”, added Dr. Gregory Stamper, his partner at the practice.
When asked what most excites them about partnering with InnovaCare, NCMG partners continued, “We are most excited to leverage their team’s industry knowledge and well-developed infrastructure. Having InnovaCare’s team supporting us with HR, Compliance, IT, and RCM will allow us to streamline our operations and spend more time delivering high-quality care to our patients.”
The NCMG transaction process was led by Steven Weiss and Graham Miller. This represents the 11th transaction for Bloom and the 2nd in the value-based care vertical, this year.
Brennan, Manna & Diamond, led by Amanda Waesch, Vice President, provided legal counsel to NCMG.
The Bloom Organization has 30+ years of experience working exclusively on healthcare services transactions assisting physicians, health systems, home health companies and private equity firms in market consolidation strategies and strategic partnerships. We have successfully advised our clients through over $7 billion of transactions across multiple physician specialties. For more information or to discuss potential monetization opportunities, please contact The Bloom Organization at (305) 974-0700 or info@bloomllc.com.
About InnovaCare Health
Headquartered in Orlando, Fla., InnovaCare Health improves the lives of patients and physicians through innovative solutions for value-based healthcare. Throughout its more than 20-year history, InnovaCare Health has owned, operated and managed an integrated portfolio of leading medical groups, health plans, medical service organizations, clinical networks and more. For more information, please visit innovacarehealth.com.